Niger: Donors Pledge $23 billion to Support Socio-economic Development Program

Niger has succeeded in mobilizing several billions to finance its economic and social economic plan after donors pledged $23 billion, a sum over exceeding the sub-Saharan country’s target of $17 billion.

The “Rennaissance du Niger” conference held in Paris on Thursday was meant to gather $17 billion necessary for the implementation of the country’s Economic and Social Development Program (PDES) for the next for year (2017-2021).

Niger got more than expected, a total of $23 billion pledged by donors including multi-bilateral and bilateral partners.

The World Bank heads the string of pledges with a total of $2.5 billion. The African Development Bank (AfdB) follows with $1.2-billion pledge. The European Union also promised to support the program with €1 billion.

Other major pledges include $200 million from the Saudi Fund, $100 million from the OPEC fund and $75 million from the Kuwait Fund.

The Community of Saharan countries, CEN-SAD pledged €152 million while regional development financing institution, BIDC promised to lay down $200 million.

Niger can also rely on its bilateral partners among whom France, Denmark and Italy.

Paris through the voice of its Ambassador in Niamey promised €400 million with €335 million to be channeled through its Development agency, AFD.

The Danish government will support with €65.5 million while Italy’s future contribution is expected to reach €100 million.

The Nigerien government also received pledges from interna-tional firms, which are eager to inject $10.3 billion in several economic sectors to include agriculture, transport, mining and energy.

Supported by the UNDP, Niger over the 2017-2018 period could reach a 5.2 % economic growth.

Posted by on December 16, 2017. Filed under Finance, News, Zoom. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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